General Insurance Article

Search Results Page 1 of 191.

1 2 3 4 5 6 7 8 9 10 11 12 Next Last

LMAs new framework for under modelled cyber exposures

A new report has been published by the Lloyd’s Market Association (LMA) setting out a framework for Lloyd’s insurers to consider using when managing their exposure to lesser-known systemic cyber risks.
Posted on Monday Jan 13

Southern California wildfires among Top 5 most destructive

The wildfire threat continues for the Los Angeles Metro area and surroundings, with one new wildfire recently developing that threatens the San Fernando Valley.
Posted on Monday Jan 13

Car insurance year end reductions as home insurance holds

The latest General Insurance Price Index from Pearson Ham Group for Q4 2024 highlights a sharp decline in motor insurance premiums.
Posted on Thursday Jan 9

Lloyds Market Association announces 2025 priorities

The Lloyd’s Market Association (LMA) has today announced its 2025 priorities. Reinforcing its purpose to maintain the Lloyd’s market’s position at the forefront of global insurance, the LMA board has outlined that its priorities for the year ahead will include both Blueprint Two and data standards within digitisation; regulatory advocacy in the UK, EU and US; as well as culture and early talent.
Posted on Thursday Jan 9

Insurance advice on staying safe in cold weather

With cold weather on its way and an amber warning in force across the weekend, the Association of British Insurers (ABI) is sharing advice with customers to stay safe and protect their homes in cold weather.
Posted on Monday Jan 6

One in six recent divorces delayed due to money struggles

To mark Divorce Day (6th January), Legal & General has revealed that one in six recent divorces (280,000 -17%) were delayed for financial reasons. Divorce hits hard: annual incomes drop by an average of £9,000 in the first year after a separation. 40% of divorcees believe the process is financially unfair, yet only 7% seek financial advice. Nearly 900,000 divorced people in the UK have forgotten to update their will to exclude a former flame.
Posted on Monday Jan 6

Sleighing the risks by giving Santa the insurance he needs

While you might be the most magical employer in the world, we know that even you aren’t immune to the risks of running a global delivery service! From workshop mishaps to worldwide travel with a sleigh full of presents, it’s clear, as the big man in charge, there’s plenty to think about when it comes to insurance. After all, accidents can happen, even in the North Pole! But what policies might you need to keep your operations running smoothly as the jolly old man in red?
Posted on Tuesday Dec 17

Almost a third of homeowners have been victims of burglaries

Research commissioned by Co-op Insurance reveals that almost one in three (29%) homeowners have been the victims of theft from their home. The member-owned business also found that nearly one in eight (11%) homeowners in the UK say they feel that their home is less secure when dark evenings set in during the winter months. Meanwhile, vehicle keys and personal documents are the items Brits would most want to protect from theft.
So far in 2024, the provider has seen claims as high as almost £85,000 for theft from homes. Co-op Insurance is encouraging homeowners to take precautions to help keep their home secure this winter.
Posted on Monday Dec 16

Diversity improving in insurance and long term savings

Key figures from the Association of British Insurers’ latest Diversity, Equity and Inclusion (DEI) data collection highlight the work of insurers and long-term savings providers to improve gender representation, ethnic minority representation and socio-economic diversity across the sector.
Posted on Monday Dec 16

Insurers turn to facultative reinsurance as a strategic tool

Facultative reinsurance is increasingly seen as a core element of risk management strategies; however, insurers may face significant barriers accessing capacity as supply continues to fluctuate with cyclical market forces according to the Facultative Reinsurance Report 2024 published by WTW
Posted on Thursday Dec 12

2025 as the year of the modern insurer

Emerging technologies and trust predicated to elevate carriers amid sector uncertainty, according to industry experts from SAS. As carriers continue to step back from markets at the mercy of climate change, the next generation of insurance professionals will step up to lead the industry forward.
Posted on Monday Dec 9

IFoA investigates role of actuaries in managing cyber risk

The Institute and Faculty of Actuaries (IFoA) has today published its latest thematic review, ‘Actuaries managing Cyber Risk’. The report provides an up-to-date picture of the areas of work where actuaries are involved with cyber risk.
Posted on Monday Dec 9

Black Box technology can save you money on car insurance

The rising cost of motor insurance – research reveals that UK insurers are leaving motorists in the dark regarding savings that can be made to their premium if they switch to using ‘black box’ technology onboard their vehicle
Posted on Wednesday Dec 4

25 dates for your diary in 2025

Sarah Coles, head of personal finance, Hargreaves Lansdown: “2024 was dominated by uncertainty, with the general election and the Budget of a thousand rumours. There are plenty of unknown quantities in 2025 too – not least the impact of the new resident of the White House. There are some things, however, we can brace ourselves for, and there are 25 dates affecting your personal finances that are worth watching in 2025.
Posted on Tuesday Dec 3

PI rates falling rapidly as new capacity enters market

56% of the market expected there to be zero increase in rates in 2024; however, recent months have seen rates dropping as incumbents face increasing competition from MGAs. 31% of respondents expect capital allocation to be the most important structural influence on the volume of PI business written in the UK over the next 12 months. 72% highlighted the use of artificial intelligence as a growing risk to business operations and services. 74% expect the severity of PI claims will continue to increase over the next 2 years
Posted on Tuesday Dec 3

Car insurance premiums to fall after change in PID rate

PwC expects motor insurance premiums in England and Wales to decrease - with drivers seeing an average saving of £50 (5%). Rate change should further intensify the competitiveness of the motor insurance market.
Posted on Monday Dec 2

Scrapping IPT would boost EV switch

Paul Baxter, CEO, The Green Insurer, said: “Scrapping or reducing Insurance Premium Tax on electric vehicles would be a straightforward way to help encourage drivers to make the switch from petrol or diesel cars.
Posted on Friday Nov 29

FCA seek further views on enforcement transparency proposals

The FCA has published the second phase of its consultation on proposals for a measured increase in transparency about its enforcement investigations, and set out plans for further engagement after significant concerns were raised in relation to the original consultation.
Posted on Thursday Nov 28

Insurance advice for those affected by Storm Bert

The Association of British Insurers (ABI) is reassuring homeowners and businesses impacted by Storm Bert that their insurers will be ready to help and support them. Damage caused by storms and flooding is covered by most standard home insurance and commercial business policies, and comprehensive motor insurance.
Posted on Wednesday Nov 27

Advice to ensure you do not get caught out in the cold

With many parts of the UK getting the first taste of winter recently, the Association of British Insurers (ABI) is sharing advice for people to avoid getting caught out in the cold.
Posted on Friday Nov 22

IPT receipts 14 percent higher than last years total

According to the latest HMRC data, Insurance Premium Tax (IPT) receipts reached £956 million in October 2024, bringing the seventh-month 2024/25 total to £5.5 billion.

Posted on Thursday Nov 21

Embracing data analytics to improve risk management

The insurance industry is embracing technological advancements to enhance risk assessment, fraud detection, and customer insights. Insurance data analytics plays an essential role in improving decision-making and optimizing risk management, leveraging predictive modeling and machine learning to support more personalized services and regulatory compliance.
Posted on Tuesday Nov 19

Claimant used staged imagery in falsifying claim

A South London moped driver has failed in his bid to falsely obtain more than £126,000 from Direct Line Group – and left with a £30,000 legal bill – after investigations by Clyde & Co identified photographs submitted as “evidence” by the claimant had clearly been staged.
Posted on Thursday Nov 14

One in five cars damaged by potholes has to be written off

Data from leading insurer Allianz reveals that one in five (21%) insurance claims where a vehicle hit a pothole leads to the vehicle being declared an insurance write-off. Biggest insurance claim paid was £53,000 for BMW 7 series wrecked on A-road.

Posted on Monday Nov 11

Protective flood measures more effective than rebuilding

Flood risk is set to increase due to climate change and urban sprawl. Economic benefits of flood adaptation measures can be up to ten times the costs of post-disaster rebuilding. Dykes can reduce flood damage by 60-90%, especially in densely populated regions.
Posted on Monday Nov 11